UI Standard Service Generation Rates To Drop in July-06.29.2017

06.29.2017 - UI Standard Service Generation Rates To Drop in July

ORANGE, Conn. — June 29, 2017 — United Illuminating customers who choose UI as their generation supplier will see rates drop slightly on July 1.

UI’s default Standard Service generation rate for residential Rate R customers will fall from 9.2641 cents per kilowatt-hour to 7.5998 cents per kilowatt-hour. That saves about $11.65 for a typical UI residential customer consuming 700 kilowatt-hours a month.

UI also offers a “time-of-use” rate, Rate RT, which provides a discount for electricity consumed during off-peak hours — 8 p.m. to midnight, and 24 hours on weekends. As of July 1, the on-peak Standard Service generation rate under RT will be set at 10.1602 cents per kilowatt-hour, and the off-peak generation rate will be 6.6602 cents per kilowatt-hour.

UI’s Standard Service generation rates are adjusted every six months, on Jan. 1 and July 1, to reflect changes in the price of electricity in the wholesale market. Generation rates are typically lower in the second half of the year.

UI procures power from the regional wholesale power market, without markup, under a procurement plan approved by the Public Utilities Regulatory Authority.

AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $31 billion in assets and operations in 27 states. The company owns regulated utilities and electricity generation assets through two primary lines of business, Avangrid Networks and Avangrid Renewables. Avangrid Networks is comprised of eight electric and natural gas utilities, serving approximately 3.2 million customers in New York and New England. Avangrid Renewables operates more than 6 gigawatts of owned and controlled renewable generation capacity, primarily through wind and solar, in 22 states across the United States. AVANGRID employs approximately 6,800 people. For more information, visit www.avangrid.com.

About UI:
United Illuminating (UI) is a subsidiary of AVANGRID, Inc. (NYSE: AGR). Established in 1899, UI is engaged in the purchase, transmission, distribution and sale of electricity and related services to approximately 333,000 residential, commercial and industrial customers in the greater New Haven and Bridgeport areas of Connecticut. For more information, visit www.uinet.com.